Stock Brokers
OptionsHouse – #1 in Trade Experience according to Barron’s 2009 Online Broker Survey
OptionsHouse, LLC is an online stock and option broker delivering a fast, streamlined trading experience on its professional-grade trading platform, accessible at www.optionshouse.com/. A licensed FINRA broker-dealer, OptionsHouse was founded in 2005 and is a subsidiary of proprietary option-trading firm, PEAK6 Investments, L.P.
Options involve risk and are not suitable for all investors. In addition, electronic trading poses unique risk to investors. System response and access times may vary due to market conditions, system performance and other factors. OptionsHouse provides neither investment nor tax advice. Please read Characteristics and Risks of Standardized Options | Risk Statements and Disclosures | Privacy Policy, copies of which can also be obtained by contacting our Customer Service Department at customerservice@optionshouse.com. © 2006-9 OptionsHouse, LLC All rights reserved. Member of FINRA, SIPC.
How to Choose the Best Online Stock Broker
Article by Russ Babka
Choosing the “best” online stock broker is vital to trading successfully, since the broker will be responsible for carrying out your investment trades and maintaining your accounts. However, finding a good online stock broker can be quite perplexing due to sheer amount of investment firms and banks vying for your business. Everyone claims to offer the “best trades” and the “lowest prices.” So how do you decide which online stock broker best meets your needs?
Comparing Online Stock Brokers
While choosing an online stock broker, the first thing to take into consideration is whether you need a full service or a discount broker. While full service brokers offer a comprehensive range of services, discount brokers generally only execute trades on behalf of the clients. As a result, discount brokers generally charge lower commissions. Some other parameters to compare online stock brokers on are:
1.Trading platform: Online trading can become quite confusing and cumbersome, if the software provided by the online broker lacks ease-of-use. If the broker’s website takes too long to load or is too confusing, your trade result can be grossly affected.
2.Products offered: When choosing an online broker, people generally only think of stocks. However, some online brokers deal in other investment vehicles as well, such as futures, options and gold contracts. If you seek diversity in your investment portfolio, find online brokers who manage multiple investments.
3.Minimum deposit: Most online stock brokers charge a minimum deposit to execute, which may be as high as ,000. Evaluate your financial capacity and choose a broker accordingly. Note that some online stock brokers do not charge any minimum deposit, although this might mean compromising on some additional services.
4.Other costs: Beyond brokerage fees and commissions, most online stock brokers charge some hidden fees. This includes asset transfer fees, annual maintenance fees, account closing fees and inactive account fees. Clarify this beforehand or you might end up paying more than you earn.
5.Customer service: Since online trading may become boggling at times, it is important that the online broker maintains appropriate real-time over-the-phone and online customer service. Lack of proper customer service may leave you confused and frustrated. Also, ensure that the online broker’s customer service provides regularly account statements, for you to track your progress.
Finally, note that the right online stock broker can make or break your progress on the stock market. Good brokers undertake research activities to keep their clients abreast of the best strategies to optimize returns from stock trading.
Buying Stocks Without a Broker
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Stock Brokers
Whenever investors trade stocks, brokerage fees eat up a sizeable portion of their investment. DRIPs (dividend reinvestment plans), however, offer a safe, proven alternative investors can use to avoid those steep fees and still build a winning portfolio. Sponsored by Dow Theory Forecasts, a well-known and highly respected investment newsletter, Buying Stocks Without a Broker is the most comprehensive guide available for investing through DRIPs. It fully explains what DRIPs, are, details the type
Buying Stocks Without a Broker
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LLPs get bourse ticket
Stock Brokers
Mumbai, July 11: The Securities and Exchange Board of India (Sebi) today announced that limited liability partnerships (LLPs) can become members of stock exchanges.
Stock Brokers question by Jaye: How long does it take stock brokers to start really making money?
Iam 14 years old and I want to be a stock broker when I grow up, but I want to know the average it takes for stock brokers to start making good money.
Stock Brokers best answer:
Answer by surfinthedesert
You begin making money upon getting hired for a job! Keep in mind that your first job as a broker won’t be for yourself–you will be working for a firm. They usually stick the new hires in cold-calling positions and sales positions where you sell products for commissions. During this time, you may or may not make good money immediately, as it takes time to refine your skills and get the commissions going. But you’ll be working for experienced firms and have a mentor of sorts so it shouldn’t be too bad. After a couple years, you could probably apply for a different job such as financial planner or maybe go into another segment of the business. You will also spend a portion of your time studying for and obtaining your series 6, 7, 63 and other trading licenses.
22 of 22 people found the following review helpful:
Helpful, But in Need of Updating, January 8, 2004
By James Sadler (Plano, TX United States) –
This review is from: Buying Stocks Without A Broker (Paperback)
I first purchased this book years ago, and I have to admit at the time it was a revelation. I was trying to buy stocks and usually failed to do so simply because I did not want to pay broker fees and I was rarely in a position to buy 100 shares at a time (if you bought less, the stock price and the broker fee both usually went up). Back then, the book was a great aid. I still own a stock list in the book that I purchased thanks to this book. But in many ways, this book has lost a lot of relevance. Now one can go online and purchase stocks in any amount with fees of as little as $3.00. And the fact that the book has not been updated since 1996 weighs heavily against recommending it be purchased by anyone today. Perhaps Carlson has not bothered to further update because of the ease with which stocks may eb purchased on-line.Still, for someone who is a long term investor, it provides some choices as far as investing without involving a broker. And it is definitely an option if you have no desire to use the internet to make stock purchases. Just be aware that your options are limited; most companies do not offer direct purchase of their stock or Dividend Reinvestment Plans (DRIPs) to the public at large.
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16 of 17 people found the following review helpful:
All what you need to learn about DRIP is in this book, May 1, 1999
By A Customer
This review is from: Buying Stocks Without A Broker (Paperback)
This is a well written book about “Dividend Reinvestment Plan”, and basically all what you need to start your DRIP investment. The book has a directory and ratings of about 900 companies that offer DRIPs. However, you will need to learn the basics of stock market and investment before you read this book.
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11 of 11 people found the following review helpful:
Helpful for the novice investor, March 26, 2001
By A Customer
This review is from: Buying Stocks Without A Broker (Paperback)
This book was written before the likes of Ameritrade and E-Trade came along, and therefore is rather dated. The fees associated with most plans today and their minimum investments make DRIPs less attractive today then they were five years ago. However, for those who want to buy stock in companies and hold for ten or 20 years, they are worthwhile. Carlson writes in easy-to-understand language that a person not well-versed in Wall Street can grasp. Plenty of information on the company’s listed along with telephone numbers and websites. Different kinds of portfloios are profiled so the investor can see what they can do with whatever funds they have to invest. The pros and cons of this kind of investing are listed so a person can decide if it is for them. It is a worthwhile read.
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